Buyers Market Or Balanced Market East Bay Summer 2014 Update

Dated: August 10 2014

Views: 3815

Buyer's market or balanced market? Either way, this is welcome news for most buyers and even sellers. Over the last few months we have seen a leveling in prices. Acceleration of home prices, stepping up significantly over the prior comps (sales) is not happening as it was through the Spring market. The bay area housing market has been on a great run since March 2012 and it appears ready for a breather.

For buyers this represents a great opportunity to be a bit more selective with a purchase as there is more inventory to choose from and many sellers are starting to "take offers as they come in". For sellers, who decided to wait and sell now, this is still good news as they were able to ride up the equity on all previous sales and have benefited from the great run in the Spring market.
Keep in mind that there are still multiple offers on homes that are very nicely updated and presented well to the market. These homes are still selling at premium. However, homes that are being put on the market and are vacant, not updated, and priced close to previous sales will sit and that is where buyers will find opportunity. Some markets where we have seen a 15% increase in inventory since the June time frame include: Alamo, Dublin, San Ramon, Walnut Creek, Dublin, Danville and Pleasanton. For specific market stats for your neighborhood or area of interest, please send an inquiry on our contact us link and we will send that report.
Kevin R Kieffer, Broker Associate - Team Leader for Keller Williams Realty's EastBayPro Team - Our team members covers the following key cities:  Walnut Creek, Pleasant Hill, Martinez, Alamo, Lafayette, San Ramon, Danville, Orinda, Moraga, Concord, Brentwood, Oakland, Fremont, Pleasanton, Dublin - The EastBayPro Team ranks in the top 1% and was recognized as Five Star Agents in 2014 - Direct: 925-300-8000

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